Real Madrid played PSG, Chelsea and Manchester City to the finals I think Liverpool won't have survived if they had faced those teams.
Irrespective of the age and experience of the Madrid team, I think the club itself being a big club has a role in playing how formidable the team have been.  Liverpool team is quite younger, majority of them have been playing together for a while too. The difference between them and Real Madrid will be strong character and mentality.